Agriculture News
On the other hand, USDA’s quarterly wheat stocks estimate was 72 million bu. lighter than analysts anticipated. Find more highlights from USDA’s latest Quarterly Grain Stocks Report and Small Grains Summary.
Corn, soybean and wheat futures are slightly firmer this morning. Hog futures are sharply higher and cattle futures are under light pressure.
USDA also made some substantial revisions to past data.
On average, analysts surveyed by Reuters expect USDA will report the Sept. 1 hog herd around 77.101 million head, down 1.7% from year-ago. The report will be released at 2:00 p.m. CT Friday.
Warm, dry weather favored crop maturation and harvesting across much of the country the week ending Sept. 21, with topsoil moisture sliding for newly planted winter wheat.
But sales of soybeans, soymeal and cotton were strong the week ending Sept. 16, signaling optimism operations will get back to normal in time for the peak shipment period.
Corn, bean basis accelerate their recent dives as harvest ramps up.
Find highlights from USDA’s latest Cold Storage Report.
Reuters’ report seems to line up with comments from Senator Grassley regarding the RFS on AgriTalk today. And Ag Secretary Vilsack’s comments on the show seemed to pave the way for lower numbers.